Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday.
PEGI has been the subject of a number of other research reports. TheStreet raised shares of Pattern Energy Group from a “c+” rating to a “b-” rating in a research report on Thursday, August 23rd. Zacks Investment Research raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Wednesday, October 10th. National Bank Financial cut their price objective on shares of Pattern Energy Group from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, July 27th. BidaskClub raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, October 23rd. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $22.00 price objective (up previously from $21.00) on shares of Pattern Energy Group in a research report on Monday, September 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.21.
Shares of PEGI traded up $0.39 during trading hours on Thursday, reaching $18.31. 1,336,000 shares of the company traded hands, compared to its average volume of 1,045,264. The firm has a market capitalization of $1.77 billion, a P/E ratio of 96.37, a P/E/G ratio of 0.39 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.91 and a current ratio of 0.91. Pattern Energy Group has a 1-year low of $16.58 and a 1-year high of $23.39.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.26. The business had revenue of $136.00 million during the quarter, compared to analyst estimates of $141.20 million. Pattern Energy Group had a net margin of 28.80% and a return on equity of 6.91%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, equities analysts forecast that Pattern Energy Group will post 1.56 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the stock. James Investment Research Inc. acquired a new position in Pattern Energy Group in the third quarter worth about $2,182,000. Alps Advisors Inc. acquired a new position in Pattern Energy Group in the third quarter worth about $711,000. Bowling Portfolio Management LLC acquired a new position in Pattern Energy Group in the third quarter worth about $2,096,000. Aperio Group LLC raised its position in Pattern Energy Group by 14.1% in the third quarter. Aperio Group LLC now owns 152,936 shares of the utilities provider’s stock worth $3,039,000 after purchasing an additional 18,852 shares in the last quarter. Finally, CAPROCK Group Inc. acquired a new position in Pattern Energy Group in the third quarter worth about $204,000. 90.10% of the stock is owned by hedge funds and other institutional investors.
Pattern Energy Group Company Profile
Pattern Energy Group Inc, an independent power company, focuses on the construction, ownership, and operation of various power projects in the United States, Canada, and Chile. It holds interests in various wind and solar power projects. The company sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.
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